Sports fans in Michigan are in luck! Numerous reports claim that Michigan’s online sports betting industry is finally set to launch next month. Today, we’re going to talk about what is about to become available in this state.
The entire US sports gambling industry is evolving right now. Many states are seeing huge surges in sports betting revenue. We’ll talk about some of those states and discuss how things could play out in the future, as well.
Let’s get into it!
Officials Order Michigan’s Land-Based Casinos to Shut Down
As most are aware, the world’s land-based casino industry has been taking serious hits this year. That’s true even in the most profitable gambling destinations on the planet. Places like Macau and Las Vegas have seen their tourism and gaming revenue numbers plummet throughout 2020.
Macau, in particular, has been hurting lately. This territory saw almost no tourists for months due to intense travel restrictions from Mainland China. Those travel restrictions were eventually lifted, yet tourism remains far lower here than many initially predicted.
Las Vegas is also still suffering. In fact, many of the major casino-resorts recently began closing during the week. Officials at these properties claim there are not enough tourists to remain open on weekdays.
In late November, Michigan Governor Gretchen Whitmer ordered commercial casinos to shut down. This state has been seeing a steady increase in hospitalizations recently. The state’s commercial casinos are likely to remain closed until infection rates start to drop considerably.
Fortunately, there is good news on the horizon! Michigan finally seems ready to roll out its internet sports gambling platforms!
Here’s an Update on Michigan’s Online Sports Betting Industry
Michigan formally approved a bill to legalize sports betting back in 2019. It wasn’t until March of 2020 that the first sportsbooks began operating here. Many sports fans in the state have also been frustrated at the fact that no online sportsbooks have launched here yet.
That may soon change. New reports indicate that Michigan’s online sports betting industry is likely to go live next month. The Joint Committee on Administrative Rules is expected to approve this measure during a meeting tomorrow.
Mary Kay Bean, spokeswoman for the Michigan Gaming Control Board, recently spoke about this situation to the media.
“If we hear the waiver request was approved by JCAR, we are hopeful that online gaming and sports betting can start this year,” she said.
Nothing has been made official yet. It seems highly likely that the Joint Committee on Administrative Rules will approve casinos to begin offering online sports betting. Make sure to stay tuned for more information over the next couple of weeks!
States Are Now Seeing Record-High Sports Betting Revenue
The land-based casino industry is hurting badly. Interestingly, the US sports betting industry has been surging throughout 2020. States with regulated sports betting platforms are now profiting massively, as a result.
Several states have just released their sports betting revenue reports. Some of these states are reporting record-high revenue figures. That includes Rhode Island, which launched its first sportsbooks back in 2018.
New reports claim that Rhode Island saw $34.7 in sports betting handle last October. That’s an increase of 22.6% when compared to October of 2019. Total sports betting revenue came out to $4.4 million, up 76% from last year’s October.
Colorado is profiting from this industry, too. This state saw an October sports betting handle of $210,719,821. Overall revenue came out to $17,402,409. Sports betting became available earlier this year and has proven to be hugely popular.
Hopefully, Michigan’s online sports betting industry becomes profitable, as well. 2021 may end up being a massive year for the US sports gambling market.
Are you excited to see online sportsbooks finally launch in Michigan? Let us know in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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